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Forex Flash: Apple earnings capture focus – Deutsche Bank

FXstreet.com (Barcelona) - The main afternoon event for macro watchers today is the March quarter results for Apple. According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “Tech earnings have disappointed so far this reporting season particularly on the revenue side. Add to this the fact that Apple's share price has shed 25% in the year-to-date, and it's fair to say that markets are bracing for a reasonably poor quarter from the S&P500 heavyweight.”

Indeed, Street EPS estimates for the March quarter have declined about 20% in recent months according to Bloomberg data. As it currently stands, the Street's is anticipating Apple to report EPS and sales of $9.97 of $42.3bn respectively for the March quarter. Aside from Apple we have around 36 other S&P500 companies reporting as we approach the peak days for earnings season later this week.

Forex: GBP/USD rebounds after UK CBI orders and PSNB disappointment

After the London opening tumble to test the 1.5200 handle on rising UK PSNB and finding some stability at 1.5220, the GBP/USD is now rebounding since the release of UK CBI orders and as the London morning ends and gives investors’ some space ahead of the New York opening and US data. The pair is currently at 1.5252, still below yesterday’s close at 1.5297.
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FOREX: USD/CAD retraces from highs, around 1.0280

The US dollar is extending its gains against the Canadian dollar on Tuesday, pushing the cross to session highs in the vicinity of 1.0285, although retracing some ground to the current levels around...
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